NBC and Conan O'Brien have reached a settlement.The final deal includes a payout of approximately $32.5 million for Mr. O'Brien and roughly $12 million for his staff, according a person familiar with the matter. The agreement will allow Mr. O'Brien to appear on another network beginning Sept. 1, the person said.
"NBC confirms a deal is signed and an official announcement will be made this morning," an NBC spokeswoman said Thursday. An announcement of Mr. Leno's move back to "The Tonight Show" is also expected Thursday.
Statement from NBC:
"NBC confirmed today that popular late-night host Jay Leno will return to host 'The Tonight Show with Jay Leno' from 11:35 p.m.-12:35 a.m. (ET) beginning March 1, 2010 and that 'Late Night with Jimmy Fallon' will continue to be broadcast from 12:35-1:35 a.m. (ET). The announcements were made by Jeff Gaspin, Chairman, NBC Universal Television Entertainment.
'We're pleased that Jay is returning to host the franchise that he helmed brilliantly and successfully for many years,' said Gaspin. 'He is an enormous talent, a consummate professional and one of the hardest-working performers on television.'
Leno previously hosted 'The Tonight Show with Jay Leno' from May 1992-May 2009. The program will continue to showcase many of the features that made Leno America's late-night leader for more than a dozen years."
And the joint statement from NBC and Conan O'Brien:
"NBC and Conan O'Brien have reached a resolution of the issues surrounding O'Brien's contract to host 'The Tonight Show with Conan O'Brien.'
Under terms of an agreement that was signed earlier today, NBC and O'Brien will settle their contractual obligations and the network will release O'Brien from his contract, freeing him to pursue other opportunities after September 1, 2010.
O'Brien will make his final appearance as host of 'The Tonight Show' on January 22.
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